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Singaporeans' apprehension over economy, job prospects eases in Q2: Nielsen

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Perceptions over excellent or good job prospects in the next 12 months have improved (36 per cent in Q2 2017 versus 32 per cent in Q2 2016).

SIGNS of apprehension over the economy and job prospects by Singaporeans have eased in the second quarter of 2017, with Singapore consumer confidence index registering an 89-point for the period, said the latest Nielsen Global Survey of Consumer Confidence and Spending report released on Tuesday.

A total of 51 per cent of respondents perceived that the country is in an economic recession in Q2, compared to 62 per cent who thought so in Q4 2016, based on the survey findings.

The Q2 online survey was conducted from May 9, 2017 to May 27, 2017 in 63 countries, including 501 respondents from Singapore.

Job security (31 per cent of respondents) and the economy (29 per cent) remained the top major concerns to locals, while perceptions over excellent or good job prospects in the next 12 months have improved (36 per cent in Q2 2017 versus 32 per cent in Q2 2016).

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Johan Vrancken, managing director of Nielsen Singapore, said: "Singapore has seen a steady growth in its economy for the second quarter, propelled by the expansions in the manufacturing and services sectors.

"However, locals continue to be mindful on the economic outlook and their job security."

The Nielsen consumer confidence index measures perceptions of local job prospects, immediate spending intentions and personal finances.